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Askari Bank Internship Report 2010

Askari Bank Internship Report 2010

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Categories:Business/Law, Finance
Published by: Syed Asif Ali Gilani on Jul 27, 2011
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EXECUTIVE SUMMARY
The comprehensive study of Askari bank helps to suggest the organizationalwide plans that determine the long run success of the organization, finding newways to add value, flexibility, and developing unique skills and ideas to managepeople. After analyzing one can explain that how a bank can provide diversifiedproducts & services to the customers in order to provide them maximum utility.The purpose of Askari bank is to provide professional integrity, customer satisfaction and teamwork. To achieve sustained growth and profitability in allareas of business.This report is a comprehensive study to know the potential of Askari bank. AskariCommercial Bank is one of the leading banks in Pakistan, which is growingrapidly. Economy of Pakistan specially banking sector is developing very fast, sothere are opportunities in banking sector. Askari bank was incorporated inPakistan on October 9, 1991, as a public limited company. It commenced itsoperations on April 1, 1992, and is principally engaged in the business of banking, as defined in the banking companies¶ ordinance, 1962. The bank islisted on the KARACHI, LAHORE AND ISLAMABAD Stock Exchanges and itsshare is currently the highest quoted from among the new private sector banks inPakistan. Askari Bank has expanded into a nationwide presence of 98 Branches, and anOffshore Banking Unit in Bahrain. A shared network of over 1,100 online ATMscovering all major cities in Pakistan supports the delivery channels for customer service. As on December 31, 2005, the Bank had equity of Rs. 8.6 billion andtotal assets of Rs. 145.1 billion, with over 600,000 banking customers, servicedby our 2,754 employees. Askari Bank is committed todevelop and enhance each employee¶s skills andcapabilities through extensive in-house and externaltraining programs and jobrotation. Productivity of service firm is providing the best service to their customer 
 
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at low cost. ACBL (Present name: Askari Bank Limited) tend to attain themaximum share of the market.This report includes the brief details about the bank. The major purpose of thisreport is to find out the performance, details of all the departments, functions of the Askari bank, role of Askari bank in the economy of Pakistan and to prepare acomprehensive report which covers all the aspects of the bank. In this report, Idid the same thing which is required to study the organization on the whole.It was a great experience to work at the Askari bank; the things happening weretotally different from what we read in the books. In the period of 6 weeksinternship at
Askari Bank Township Branch, Lahore
(
0056
), I had a chance tohave the exposure of how a bank undergoes its functions. I tried my best to gaina practical exposure and an experience to plan, develop, present and report andto seek a challenging career oriented position in the field of general banking byusing the potential of hard work and professional skills. It was a large size branchconsists of 1 branch manager, 1 operation manager, 1 in charge generalbanking, 3 OGIII officers, 8 OGII officers, 5 OGI and some other clerical staff. Asinternee I have to help the different employee in the Branch in their daily work. Iwas asked to work on the entire general banking except cash dealings.First I found out the brief history of the Askari bank to know about the past of thebank then I found the details about the present functions, its professional out lookto attract the customers and to increase the business. During my internship I wassent to different departments including Accounts, Credits, customer dealing Account opening, Clearing, Remittances and Foreign exchange/Trade. Account opening department gave a chance to know about the account openingprocess and requirements. In customer dealing, I learnt how to satisfy thecustomers. Remittance department explains the different kind of servicesprovided by the Askari bank. I tried to explain the (D.D, Pay Order, M.T, T.T)opening, clearing and encashment process. Accounts department shows all theworking of the bank during the whole period. This department prepares the
 
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balance sheet, income statement, salary slip of the employees and disburses thesalary to the employees.The foreign exchange department provides the detail about the trade of thecountry the foreign exchange covers imports, exports and foreign currencies. Ilearnt about LC opening, lodgment and retirement and other ways of making animport. The foreign currency department shows the currency come in and goesout of the country. Credit department covers all the schemes which the bankoffers to benefit the people of the country.
 
 At the very end I performed the financial ratio & SWOT analysis of Askari bank toshow the actual position of the bank and to find out the strength, weakness andadvantages of the bank.By analyzing the overall performance I can say that thebank has improved its working.
 
 And it links to be getting better in profit earningsector and it is expected that the Profitability of the bank will be improved in thefuture year. After the analysis I give suggestions to bank which I feel during my internshipprogram the bank can make rapid progress and can increase its business andperformance. So at the end we can sayin the modern era it has achieved adestination where other competitive modern banks can simply reach.For theyear 2006
,
 Askari bank has won the
Best Consumer Banking Award 2006
fromthe consumer Association of Pakistan, the
Best Retail Banking Award 2008
from Pakistan Guarantee Export Corporation Ltd. and
The Best CorporateReport Award
for the year 2008 from the Institute of Chartered Accountants inPakistan (ICAP), and the Institute of Cost and Management Accountants inPakistan (ICAMP).That is why people have more trust in askari bank and theyare willingly depositing their money in it without any threat. All in all, it was a very good learning; which will be helpful in my career.

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